David Geffen Sells Manhattan Apartment for $24.5 Million

The DreamWorks co-founder sold the 5,000-square-foot unit on Fifth Avenue to an oil tycoon

BY Ariel R. Shapiro

| ORIGINALLY PUBLISHED ON May 9, 2018

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Hollywood producer and DreamWorks co-founder David Geffen sold his Manhattan apartment to billionaire Eugene Shvidler for $24.5 million in an off-market deal, property records show.

The sale of the two-bedroom, two-and-a-half bathroom apartment closed on May 3, the records show. Mr. Geffen, 75, purchased the property in 2010 for $14.17 million from Robert A. Daly, a fellow media mogul who has run CBS and Warner Bros.

The apartment was first listed in 2016 for $27.5 million. The listing was removed last year, StreetEasy records show. At the time, the listing was being handled by Corcoran. One of the agents, David Adler, declined to comment on the sale.

Mr. Geffen has been on a bit of a real estate selling spree. Last year, he sold his Malibu mansion for $85 million in another off-market deal. In 2016, he sold his East Hampton estate for $67.3 million after buying a beachfront property nearby.

Mr. Shvidler, 54, a billionaire who made his money in Russian oil in the 1990s, is executive chairman of Highland Gold Mining Ltd., which operates gold mines in Eastern Russia.

DISCLAIMER: The currency conversion is provided for illustration purposes only. It is meant only as an approximation based on the latest information available and should not be relied upon for any other purposes. We are not responsible for any loss that you may incur as a result of relying on these currency conversions. All property prices are as stated by the listing agent.

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